200
200
Dec 15, 2012
12/12
by
KQED
tv
eye 200
favorite 0
quote 0
, but i think you do have to sort of look beyond the fiscal cliff, not just to the fiscal cliff. there is a lot of obsession about it for understandable reasons, if they dig in their heels there is real fiscal drag involved, we don't think that is is that is the likely scenario, we think it is much more likely they downsize the size of the cliff and maybe knock half of it off and work on the rest in early 2013, but the more important thing, tom, i think is the secular things they can do in first half of 2013 to improve the trajectory of what we are doing with our entitlement programs and with tax reforms, and if they do that, that is what i mean by looking through the cliff, if those things happen, 200013 could set up and trigger a lot of good catalysts not just in the u.s. but around the world. >> yes that's the big enchilada you are talking about with entitlement reform and tax reform, what lies beyond the cliff or for that matter, you know, what with relooking at in terms of the economy beyond it? >> well, i think if you look at three big factors, tom, europe has gotten better
, but i think you do have to sort of look beyond the fiscal cliff, not just to the fiscal cliff. there is a lot of obsession about it for understandable reasons, if they dig in their heels there is real fiscal drag involved, we don't think that is is that is the likely scenario, we think it is much more likely they downsize the size of the cliff and maybe knock half of it off and work on the rest in early 2013, but the more important thing, tom, i think is the secular things they can do in...
126
126
Dec 10, 2012
12/12
by
KQED
tv
eye 126
favorite 0
quote 0
. >> it has probably not escaped your attention that the mantra "fiscal cliff, fiscal cliff, fiscal cliff" is played out every night on the evening news and the corporate news. what does that say to you? that you'd get "fiscal cliff, fiscal cliff," but not "job crisis, job crisis, job crisis"? >> it tells me, quite frankly, that many of these people, who by the way did not have much to say about the deficit when we went to war in iraq and afghanistan and didn't pay for it, i didn't hear from any people in the media complaining about that. what it tells me is that behind the corporate drive for deficit reduction is a significant effort to try to cut social security, medicare, and medicaid and other programs that working families need, not so much because of deficit reduction, because this has been the agenda of republicans and right wingers for a very long time. >> so how do you see this fiscal debate playing out in the next couple of weeks? >> we have, those of us who say that deficit reduction is a serious issue, i believe it is. but believe very strongly that at a time when we have the
. >> it has probably not escaped your attention that the mantra "fiscal cliff, fiscal cliff, fiscal cliff" is played out every night on the evening news and the corporate news. what does that say to you? that you'd get "fiscal cliff, fiscal cliff," but not "job crisis, job crisis, job crisis"? >> it tells me, quite frankly, that many of these people, who by the way did not have much to say about the deficit when we went to war in iraq and afghanistan...
251
251
Sep 4, 2012
09/12
by
KQED
tv
eye 251
favorite 0
quote 0
it's called the fiscal cliff. maybe you've heard about all the automatic tax increases and spending cuts that make up the fiscal cliff. now, before you say this is just another silly inside-the-beltway mess that doesn't affect my life. we want to tell you that the fiscal cliff is different. tonight, we're going to tell yoo what all this means to you, to our economy and our future. thelma and louise made pop history when they defiantly drove off that cliff. but this january, congress could steer the u.s. off a different cliff. and when someone falls off a cliff in washington, there are no stunt men to pick them up. on january 1, 2013, tax breaks worth $416 billion will expire. spending on things like defense, medicare payments to doctors will be slashed by $65 billion. add it all up and you are talking about cutting roughly half a trillion dollars from the federal budget. and if we do go over this cliff and let all this happen, the economy is projected to stagger into recession. it could derail everything, it would
it's called the fiscal cliff. maybe you've heard about all the automatic tax increases and spending cuts that make up the fiscal cliff. now, before you say this is just another silly inside-the-beltway mess that doesn't affect my life. we want to tell you that the fiscal cliff is different. tonight, we're going to tell yoo what all this means to you, to our economy and our future. thelma and louise made pop history when they defiantly drove off that cliff. but this january, congress could steer...
179
179
Sep 4, 2012
09/12
by
KQED
tv
eye 179
favorite 0
quote 0
it's called the fiscal cliff. maybe you've heard about all the automatic tax increases and spending cuts that make up the fiscal cliff. now, before you say this is just another silly inside-the-beltway mess that doesn't affect my life. we want to tell you that the fiscal cliff is different. tonight, we're going to tell you what all this means to you, to our economy and our future. thelma and louise made pop history when they defiantly drove off that cliff. but this january, congress could steer the u.s. off a different cliff. and when someone falls off a cliff in washington, there are no stunt men to pick them up. on january 1, 2013, tax breaks worth $416 billion will expire. spending on things like defense, medicare payments to doctors will be slashed by $65 billion. add it all up and you are talking about cutting roughly half a trillion dollars from the federal budget. and if we do go over this cliff and let all this happen, the economy is projected to stagger into recession. it could derail everything, it would
it's called the fiscal cliff. maybe you've heard about all the automatic tax increases and spending cuts that make up the fiscal cliff. now, before you say this is just another silly inside-the-beltway mess that doesn't affect my life. we want to tell you that the fiscal cliff is different. tonight, we're going to tell you what all this means to you, to our economy and our future. thelma and louise made pop history when they defiantly drove off that cliff. but this january, congress could steer...
178
178
Dec 4, 2012
12/12
by
KQED
tv
eye 178
favorite 0
quote 0
everybody in washington is talking about the fiscal cliff. the so-called fiscal cliff. they're not talking to each other at the moment. that is what the conversation is going to get to, how do we avoid going over the so-called fiscal cliff? you suggested that the fiscal cliff might be good. i got a chance to go through your book. i understand, i think, why you might feel that way. the book argues that we need disorder to develop. we need disorder in our world to develop. we will come back to the book in a moment. based upon the motion -- that notion, why might the fiscal cliff be a good thing? >> we have been stuck for four years in a state of complacency. nobody wants to do anything about the accumulating problems. everybody knows about the problems. i think the civilization is masking deeper problems. if you let markets give you information, they will give the information. other than artificially prop up everything, like having the federal reserve control prices. this is not a long-term sustainable situation. what i think should happen is -- you would rather fail earl
everybody in washington is talking about the fiscal cliff. the so-called fiscal cliff. they're not talking to each other at the moment. that is what the conversation is going to get to, how do we avoid going over the so-called fiscal cliff? you suggested that the fiscal cliff might be good. i got a chance to go through your book. i understand, i think, why you might feel that way. the book argues that we need disorder to develop. we need disorder in our world to develop. we will come back to...
133
133
Nov 30, 2012
11/12
by
KQED
tv
eye 133
favorite 0
quote 0
falls off the fiscal cliff. if the cliff is averted... >> then i think you will see silver, platinum, palladium-- the so-called white metals-- outperform gold, because they will tend to outperform in a risk-on environment in a cyclical upturn. >> reporter: now, the other scenario: >> in an environment where we go off the fiscal cliff and we see continued problems on the debt side for the u.s., i think the gold price outperforms the white metals. >> reporter: gold's price will also depend on whether central banks continue to diversify their holdings into gold, and whether they implement more quantitative easing to boost growth. the outlook for platinum is a little more complicated. there have been major supply disruptions due to labor unrest in south africa, which produces nearly all of the world's platinum. it also depends on demand. >> europe is a key part of the platinum demand picture. if europe can recover, certainly that's going to bode well for platinum demand. if the price trades higher, it may affect som
falls off the fiscal cliff. if the cliff is averted... >> then i think you will see silver, platinum, palladium-- the so-called white metals-- outperform gold, because they will tend to outperform in a risk-on environment in a cyclical upturn. >> reporter: now, the other scenario: >> in an environment where we go off the fiscal cliff and we see continued problems on the debt side for the u.s., i think the gold price outperforms the white metals. >> reporter: gold's price...
154
154
Nov 21, 2012
11/12
by
KQED
tv
eye 154
favorite 0
quote 0
, where the economy goes off the broad fiscal cliff, the largest fiscal cliff, which, according the c.b.o. and our analysis, would send the u.s. economy into recession, i don't think the fed has the tools to offset that. >> susie: members of the audience agreed. >> he was very frank in saying, you know, "we can try," he essentially said, "we will try, but we don't have anything in our arsenal that comes close." >> susie: bernanke is already using the weapons in his arsenal to fix the job market, which he said today is still "unhealthy". he also repeated the fed's plan to keep interest rates super low at least into 2015. >> we will want to be sure that the recovery is established before we begin to normalize policy. we hope that such assurances will reduce uncertainty and increase confidence among households and businesses. >> susie: but bernanke gave no hints on when americans can expect to see higher rates. >> the further we go down the road, the question is going to turn to how is the fed going to reverse policy, and what the chairman said today is that decision is a long way off. >> su
, where the economy goes off the broad fiscal cliff, the largest fiscal cliff, which, according the c.b.o. and our analysis, would send the u.s. economy into recession, i don't think the fed has the tools to offset that. >> susie: members of the audience agreed. >> he was very frank in saying, you know, "we can try," he essentially said, "we will try, but we don't have anything in our arsenal that comes close." >> susie: bernanke is already using the...
174
174
Dec 20, 2012
12/12
by
KQED
tv
eye 174
favorite 0
quote 0
how do the fiscal cliff, the threat of the fiscal cliff, how could it be impacting consumer behavior? >> right now it could generate a lot of uncertainty in the minds of consumers. different demographics might react very differently. specifically, the 1% or 2% at the top, where the democrats are proposing very large tax increases, or the repeal of the bush tax cuts to that group, it could affect their consumption decisions ahead of the holidays. they might choose to pull back or wait to see what the ultimate resolution might be. >> tom: is that going to be enough to show up in economic statistics that we see in december? >> well, sure. i mean, based on what i know, based on my previous research, given that, you know, especially looking at investor behavior, we know that investors are more likely to make mistakes when there is greater market-wide uncertainty, and we can see that in their decisions to trade, and trade more actively, and make bigger mistakes. they don't understand the implications of all of the tax cuts and so on. and they're likely to make bigger mistakes, which taken t
how do the fiscal cliff, the threat of the fiscal cliff, how could it be impacting consumer behavior? >> right now it could generate a lot of uncertainty in the minds of consumers. different demographics might react very differently. specifically, the 1% or 2% at the top, where the democrats are proposing very large tax increases, or the repeal of the bush tax cuts to that group, it could affect their consumption decisions ahead of the holidays. they might choose to pull back or wait to...
221
221
Dec 21, 2012
12/12
by
KQED
tv
eye 221
favorite 0
quote 0
. >> the latest on the fiscal cliff. >> the ugly phrase that is on everyone's lips, fiscal cliff, is what america could tumble off and 11 days. it means that if the president and congress cannot agree on a plan to sort out finances, there will be automatic savage cuts and brittle tax rises. neither side is budging much. >> it is very hard for them to say yes to me. at some point, they have got to take me out of it and think about their voters. >> four weeks, the white house said that if i move on rates, they would make substantial concessions on spending cuts and entitlement reform. i did my part. they have done nothing. >> it would mean automatic spending cuts worth more than a trillion dollars. taxes for the average household would go up by about three and a half thousand dollars. most economists say the u.s. would be put back into recession and global growth could be halved. the u.s. defense budget alone would face a cut of $500 billion. companies like aircraft manufacturers are very nervous. this is already hurting business. >> this is a confidence detractor. and do i really have
. >> the latest on the fiscal cliff. >> the ugly phrase that is on everyone's lips, fiscal cliff, is what america could tumble off and 11 days. it means that if the president and congress cannot agree on a plan to sort out finances, there will be automatic savage cuts and brittle tax rises. neither side is budging much. >> it is very hard for them to say yes to me. at some point, they have got to take me out of it and think about their voters. >> four weeks, the white...
111
111
Nov 14, 2012
11/12
by
KQED
tv
eye 111
favorite 0
quote 0
economy of the fiscal cliff. expectations remain mixed for fancier retailers, but some experts predict the debate in washington over taxes will simply delay holiday purchases made by wealthy americans. >> i would expect that holiday spend won't get impacted as much. some of the larger wealth items, tax planning, estate planning, that's where their focus will be. it may defer some of it because they've been preoccupied. >> reporter: tom jacobsen tracks consumer spending behavior and believes the fiscal cliff will impact shopping patterns. he says in an uncertain economy retailers will need to pay close attention to pricing. >> as the confidence erodes, you might need more discounting to sell a luxury good. but that extra discounting won't take away from that good-feeling luxurious. >> reporter: according to a study out today, half of u.s. consumers still plan to buy make a small luxury purchase in the next six months. of those, 53% want specialty food or drinks, 48% are in the mood for luxury clothing, and 48% are
economy of the fiscal cliff. expectations remain mixed for fancier retailers, but some experts predict the debate in washington over taxes will simply delay holiday purchases made by wealthy americans. >> i would expect that holiday spend won't get impacted as much. some of the larger wealth items, tax planning, estate planning, that's where their focus will be. it may defer some of it because they've been preoccupied. >> reporter: tom jacobsen tracks consumer spending behavior and...
183
183
Nov 11, 2012
11/12
by
KQED
tv
eye 183
favorite 0
quote 0
gridlock over the so-called fiscal cliff. what's the fiscal or better put financial cliff? think of it as a high, steep rock. a ledge the u.s. is teetering on and will plunge over if no action is taken on certain financial matters. what are those? one, the bush era tax cuts. in 2001 and 2003, congress, under president george w. bush, lowered everyone's taxes. but it was only temporary, like 11 years temporary. less than two months from now midnight december 31, taxes go back up. the average household will pay more in taxes each year, $2000 to $3500 more. two, sequestration. what's that? new, big budget cuts. $110 billion in cuts in 2013 alone. they go into effect january 2, and will affect the defense budget and the domestic budget. the cbo, says unemployment could climb up over 9%, pushing the u.s. back into recession. why did this happen? an automatic sequestration or permanent set aside of $1.2 trillion was passed by congress, in order to force congress to compromise and figure out how to cut the budget itself. but, a congressional supercommittee of house and senate memb
gridlock over the so-called fiscal cliff. what's the fiscal or better put financial cliff? think of it as a high, steep rock. a ledge the u.s. is teetering on and will plunge over if no action is taken on certain financial matters. what are those? one, the bush era tax cuts. in 2001 and 2003, congress, under president george w. bush, lowered everyone's taxes. but it was only temporary, like 11 years temporary. less than two months from now midnight december 31, taxes go back up. the average...
90
90
Nov 13, 2012
11/12
by
KQED
tv
eye 90
favorite 0
quote 0
lawmakers: avert the fiscal cliff, or risk a credit downgrade. >> tom: i'm tom hudson. we're going global with legendary investor mark mobius, franklin templeton's top strategist on the state of emerging markets now. >> susie: and picture this: the u.s. is just a few years away from being the world's top oil producer, and self-sufficient. we'll tell you who's making that prediction, and investment strategies for your portfolio. >> tom: that and more tonight on "n.b.r."! >> susie: the u.s.'s top-notch credit rating is at risk. that's the warning today from moody's investor's service. the ratings agency told u.s. lawmakers that when it comes to the fiscal cliff, the time to act is now, not next year. moody's said if action on averting the cliff is delayed until 2013, it might downgrade the stellar credit rating on u.s. debt. right now moody's has a negative outlook on the u.s. economy. worries about a fiscal freefall, kept wall street stocks in check: the dow and nasdaq fell a fraction, while the s&p was up a fraction. american businesses are not only concerned about the
lawmakers: avert the fiscal cliff, or risk a credit downgrade. >> tom: i'm tom hudson. we're going global with legendary investor mark mobius, franklin templeton's top strategist on the state of emerging markets now. >> susie: and picture this: the u.s. is just a few years away from being the world's top oil producer, and self-sufficient. we'll tell you who's making that prediction, and investment strategies for your portfolio. >> tom: that and more tonight on...
86
86
Dec 8, 2012
12/12
by
KQED
tv
eye 86
favorite 0
quote 0
. >> i think the fiscal cliff ultimately will be rendered into a fiscal slow. between now and then the uncertainty is paralyzing ceo companies from big to small. you can see in the core capital goods orders which have basically fallen off in the last two quarters indicative of holding that business investment and hiring back which we think will change once we have some certainty brought into that equation. >> tom: finally housing which has shown remarkable stability in several markets but there's talk about limiting mortgage deductions with the fiscal cliff negotiations sometime next year. couldn't that impact the recovery? >> it could. obviously it might be relegated to more affluent households in terms on of the ability to do a deduction either in full or part. tend of the day there's a large household informq.rjz that's occur that's going to drive perspective homeowners into the market regardless. >> tom: let's get to the pic3sb here. you do like housing stocks with the home builders etf. what do you anticipate. they've had a nice run already. >> they've bee
. >> i think the fiscal cliff ultimately will be rendered into a fiscal slow. between now and then the uncertainty is paralyzing ceo companies from big to small. you can see in the core capital goods orders which have basically fallen off in the last two quarters indicative of holding that business investment and hiring back which we think will change once we have some certainty brought into that equation. >> tom: finally housing which has shown remarkable stability in several...
146
146
Dec 16, 2012
12/12
by
KQED
tv
eye 146
favorite 0
quote 0
one of the problems is that it is not a fiscal cliff, it is a fiscal slope. it really is not a hard deadline. my guess is that it will slide into january andin some kind of inchoate fashion. >> nina, welcome back to groundhog day. are we headed towards armageddon? >> probably not are getting, because charles is right, they have such a weekend. in the end there will have to be a compromise. i think that deadlines make people focus the mind. boehner has told people not to plan anything in that week before christmas and new year's, and i sort of expect there will be a movement. >> mark, could you give us. on the politics? >> i will. let me be the discordant note. the republicans, as my colleagues point out, absolutely have a terrible hand. 30% favorable, 45% unfavorable. when asked to say a single word or phrase about either party, 65% give a negative word about republicans -- small, petty, and hencintransigent, whatever. the hand is weak. here is the problem for the administration -- if they come out with the victory and take a victory lap and to an end zone da
one of the problems is that it is not a fiscal cliff, it is a fiscal slope. it really is not a hard deadline. my guess is that it will slide into january andin some kind of inchoate fashion. >> nina, welcome back to groundhog day. are we headed towards armageddon? >> probably not are getting, because charles is right, they have such a weekend. in the end there will have to be a compromise. i think that deadlines make people focus the mind. boehner has told people not to plan...
94
94
Dec 12, 2012
12/12
by
KQED
tv
eye 94
favorite 0
quote 0
some experts think the overhang of the fiscal cliff will likely dampen investor enthusiasm. erika miller, nbr, new york. >> tom: the latest economic statistics the federal reserve can consider is the october trade balance, with american importing a record amount of stuff from china. that increased our trade deficit to $42.2 billion. u.s. exports fell 3.6%, the biggest drop in almost four years. imports also fell, down 2.1% to the lowest in 20 months. on wall street, the dow gained 78, the nasdaq rose 44, the s& up nine. >> susie: our next guest says the fed's stimulus policies have been good for the u.s. economy and the markets. he's mike holland, chairman of his money management firm, holland and company. >> susie: mike, you heard erica's report. which do you think is more important for investors, fed policy action tor the fiscal cliff talks? >> right now, susie, the fiscal cliff talks are clearly the item dejure for the stock market. i think most people expect exactly what eric miller was talking about from the fed. and bern bueno ben bernanke hasn transparent and telling
some experts think the overhang of the fiscal cliff will likely dampen investor enthusiasm. erika miller, nbr, new york. >> tom: the latest economic statistics the federal reserve can consider is the october trade balance, with american importing a record amount of stuff from china. that increased our trade deficit to $42.2 billion. u.s. exports fell 3.6%, the biggest drop in almost four years. imports also fell, down 2.1% to the lowest in 20 months. on wall street, the dow gained 78, the...
153
153
Dec 7, 2012
12/12
by
KQED
tv
eye 153
favorite 0
quote 0
and one of our viewers has a question for you about the fiscal cliff. you know all about the back and forth and drama about the fiscal cliff and delores wants your thoughts on where do you stand on this whole fiscal cliff, how will it play out. >> congress better get off its duff and do something. and i think that finally the pressure will be on us. but they always do it right to the last, you know, minute. but i think it's got to happen or they're going to be ousted from their hallowed political seats. >> tom: you could argue in the three years you've been away from the nbr anchor desk congress hasn't done a lot to address the fiscal situation. >> no it's just ridiculous. i mean these are our elected representatives and they have got to pay a little more attention to those that got them in the office. and they're arguing amongst themselves without much care about the people they represent. >> tom: a lot of those folks are retiree, we have a question from anita asking what is the investing or financial planning lesson paul use most during retirement? >>
and one of our viewers has a question for you about the fiscal cliff. you know all about the back and forth and drama about the fiscal cliff and delores wants your thoughts on where do you stand on this whole fiscal cliff, how will it play out. >> congress better get off its duff and do something. and i think that finally the pressure will be on us. but they always do it right to the last, you know, minute. but i think it's got to happen or they're going to be ousted from their hallowed...
85
85
Nov 3, 2012
11/12
by
KQED
tv
eye 85
favorite 0
quote 0
i think the fiscal cliff is going to be more of a fiscal slope, but there will be a tax element to it. i think because we're starting at such a low level of tax rates, we're very likely to have higher taxes either immediately with the expiration of the payroll tax and potentially on capital gains and dividends in 2013 and beyond. >> tom: how should invests approach that, invest on what tax rates may be next year? >> not really. but there are great costs to be avoided by lessening the tax drag on your investment. positioning your portfolio and making sure you're in sthooks can outperform in a rising interest rate environment-- which is another thing we're worried about-- longer term makes some sense. >> tom: so rising interest rate environment, possibly higher inflation, higher taxes. not exactly the most shiny of forecasts for investors. >> well, there is something you can do about it. you can avoid that tax drag by maximizing your investments in qualified plans. you can keep up with modest inflation by making sure you have your asset allocation mix right. inflation really picks the p
i think the fiscal cliff is going to be more of a fiscal slope, but there will be a tax element to it. i think because we're starting at such a low level of tax rates, we're very likely to have higher taxes either immediately with the expiration of the payroll tax and potentially on capital gains and dividends in 2013 and beyond. >> tom: how should invests approach that, invest on what tax rates may be next year? >> not really. but there are great costs to be avoided by lessening...
97
97
Sep 28, 2012
09/12
by
KQED
tv
eye 97
favorite 0
quote 0
cliff. >> we need to get past the election, we need to get past the fiscal cliff, have some certainty about the conduct of fiscal policy over 2013, and maybe see some further progress in europe to lift this veil of uncertainty that's holding back both businesses and households. >> reporter: at the margin, the falling number of people filing for unemployment insurance is likely to bolster consumer confidence. but economists are looking for about a 100,000 increase in payrolls in the september employment report out next friday. call that a guarded outlook. >> in the fourth quarter, we think job growth is going to pick back up. we have had some sluggishness in job growth in recent months. ultimately, we do expect businesses to feel they need to hire somewhat more. that, we think, will resume a downward trend in the unemployment rate. so we think the next move on job growth is up rather than down. >> reporter: the bright spot in the economy is housing. pending home sales slipped 2.6% in august, but that was still a better reading than last year at this time. overall home prices, sales and
cliff. >> we need to get past the election, we need to get past the fiscal cliff, have some certainty about the conduct of fiscal policy over 2013, and maybe see some further progress in europe to lift this veil of uncertainty that's holding back both businesses and households. >> reporter: at the margin, the falling number of people filing for unemployment insurance is likely to bolster consumer confidence. but economists are looking for about a 100,000 increase in payrolls in the...
332
332
Dec 8, 2012
12/12
by
KQED
tv
eye 332
favorite 0
quote 0
now things have changed and there is more concerned about the fiscal cliff. they asked about a resolution. >> what could the impact speed? we are looking at a time when the global recovery is fragile at best. >> of u.s. is 20% of the global economy. if the u.s. suffers as a result of a fiscal cliff, a complete wiping out of its growth is going to have repercussions around the world. probably half of that. if the u.s. economy has less growth, it will probably be 1% less in mexico, canada, probably less so in europe and japan. but there will be a ripple effects. >> are you worried about it? >> yes. of course i worry about it. the u.s. is a big chunk of the global economy. it has often been a driver of growth. and to have that player virtually flat, if not in recession, would be bad news for the rest of the world. we do not need that because recovery is fragile. we do not want to have this knock on affect on the fragile recovery. >> what would your message be to members of both parties on capitol hill as their negotiating? >> i would say focus on the real issue.
now things have changed and there is more concerned about the fiscal cliff. they asked about a resolution. >> what could the impact speed? we are looking at a time when the global recovery is fragile at best. >> of u.s. is 20% of the global economy. if the u.s. suffers as a result of a fiscal cliff, a complete wiping out of its growth is going to have repercussions around the world. probably half of that. if the u.s. economy has less growth, it will probably be 1% less in mexico,...
100
100
Nov 8, 2012
11/12
by
KQED
tv
eye 100
favorite 0
quote 0
cliff now looms large on wall street. >> i think the big issue right now is the fiscal cliff, now that the election is behind us everyone is really focusing on what's going to happen at the end of this year, and of course if nothing's done by the end of the year that may very well mean a recession as early as next year. >> reporter: still, the best news for equity investors is that the election was decisive. the next few days or weeks will not be dominated by challenges or hanging chads. instead there is the hope the still divided congress will work together with a reinvigorated president to solve america's fiscal problems. and some predict that spirit of cooperation will help lift stocks higher again. >> what i encourage investors to realize however is that an agreement at some point in time is more likely than not and as a result of that you're probably going to see a relief on the other end, the last thing you want to do right now is time the market. >> reporter: here's one hopeful tidbit that might have been lost in all the recent political rhetoric. the stock market is far better
cliff now looms large on wall street. >> i think the big issue right now is the fiscal cliff, now that the election is behind us everyone is really focusing on what's going to happen at the end of this year, and of course if nothing's done by the end of the year that may very well mean a recession as early as next year. >> reporter: still, the best news for equity investors is that the election was decisive. the next few days or weeks will not be dominated by challenges or hanging...
170
170
Sep 29, 2012
09/12
by
KQED
tv
eye 170
favorite 0
quote 0
or go say hey this guy won't talk about the fiscal cliff, i will cut a deal. i will cut a deal to so we don't go off the fiscal cliff so business can have some confidence that would be the sort of unusual thing i think would be a practical thing that would be believable. >> and so is that right? what romney needs to do is go in and talk about you know name four things. >> well, three, not four. >> three things. >> maybe two or three, no more than three. >> judy, he has to understand this, first of all. the first debate helps the challenger. because for the first time the challenger is stand on the same stage with the president. and the fact that he is not blown away or there is not an enormous gap between the two, the challenge, whoever the challenger is benefits from that. and he's got to stay within himself. he can't be somebody he isn't. the problem that mitt romney has in addition to being the terrible word of somehow being too rich, and not understanding ode people, is that he, that he doesn't seem authentic so i think he's got to be absolutely within him
or go say hey this guy won't talk about the fiscal cliff, i will cut a deal. i will cut a deal to so we don't go off the fiscal cliff so business can have some confidence that would be the sort of unusual thing i think would be a practical thing that would be believable. >> and so is that right? what romney needs to do is go in and talk about you know name four things. >> well, three, not four. >> three things. >> maybe two or three, no more than three. >> judy, he...
202
202
Nov 16, 2012
11/12
by
KQED
tv
eye 202
favorite 0
quote 0
. >> susie: and the fiscal cliff isn't the only uncertainty for c.e.o.s. the future of financial regulations with the c.e.o. of florida-based bank united. >> tom: that and more tonight on nbr! $4.5 billion and guilty pleas to charges of manslaughter and lying to congress. that was the admission today from b.p. two and a half years after the "deepwater horizon" disaster in the gulf of mexico. that disaster killed 11 people and led to the worst oil spill in u.s. history. in its guilty plea, b.p. said it deeply regrets the loss of life and almost five million barrels of oil that into the gulf. darren gersh reports. >> reporter: justice department officials hope today's settlement and criminal pleas will bring justice to the families of the men who died when the "deepwater horizon" exploded. >> perhaps the greatest tragedy is that the deaths of the 11 men on board the "deepwater horizon" could have been avoided. the explosion of the rig was a disaster that resulted from b.p.'s culture of privileging profit over prudence. >> reporter: b.p. has agreed to plead g
. >> susie: and the fiscal cliff isn't the only uncertainty for c.e.o.s. the future of financial regulations with the c.e.o. of florida-based bank united. >> tom: that and more tonight on nbr! $4.5 billion and guilty pleas to charges of manslaughter and lying to congress. that was the admission today from b.p. two and a half years after the "deepwater horizon" disaster in the gulf of mexico. that disaster killed 11 people and led to the worst oil spill in u.s. history. in...
131
131
Nov 24, 2012
11/12
by
KQED
tv
eye 131
favorite 0
quote 0
>> we need to respond to this fiscal cliff. i can't tell them how they should do it. that's their expertise but they have to figure out the details and we need to resolve this subject and give america confidence that our political leaders can work together and i honestly believe that that will happen. >> reporter: when you reported third quarter results earlier this month you said you didn't have enough clarity on the impact of superstorm sandy. do you have more clarity now? >> i do have clarity on sandy and frankly it's devastating. particularly on individuals. we had 200 of our stores closed for the first three days of the november period and then many more were closed after that because we didn't have power. we definitely were impacted in a major way at our company. >> reporter: for the current quarter you expect to fall short of wall street forecasts by at least five cents. are you still comfortable with those expectations? >> we try to guide honestly and if we're able to exceed that number that's always good news. but we try to guide where we believe we're going
>> we need to respond to this fiscal cliff. i can't tell them how they should do it. that's their expertise but they have to figure out the details and we need to resolve this subject and give america confidence that our political leaders can work together and i honestly believe that that will happen. >> reporter: when you reported third quarter results earlier this month you said you didn't have enough clarity on the impact of superstorm sandy. do you have more clarity now?...
212
212
Dec 11, 2012
12/12
by
KQED
tv
eye 212
favorite 0
quote 0
how the fiscal cliff could impact your tax bill? calculate how much you would pay under different policy scenarios on paul's "making sense" page. >> ifill: once congress gets past its budget woes, another huge domestic challenge awaits. republicans and democrats have said they will take up immigration reform. the question is how. last week a new pew hispanic center report showed illegal immigration is on the decline. last year there were 11.1 million illegal immigrants living in the country, down from 11.2 million in 2010. that's down from a peak of 12 million unauthorized immigrants reported in 2007. latino voters overwhelmingly supported president obama in november, and he has said immigration reform will be high on his second term agenda. homeland security secretary janet napolitano will oversee the administration's next steps. ray suarez sat down with her earlier today. >> suarez: secretary napolitano, welcome to the program. >> thank you. suarez: over the week past there's been a lot of reporting saying once we figure out what
how the fiscal cliff could impact your tax bill? calculate how much you would pay under different policy scenarios on paul's "making sense" page. >> ifill: once congress gets past its budget woes, another huge domestic challenge awaits. republicans and democrats have said they will take up immigration reform. the question is how. last week a new pew hispanic center report showed illegal immigration is on the decline. last year there were 11.1 million illegal immigrants living in...
99
99
Sep 14, 2012
09/12
by
KQED
tv
eye 99
favorite 0
quote 0
we think sometime after the election, that the fiscal cliff will be addressed and not all of the fiscal drag will take place, rather than say five percent of gdp it will be reduced to more like one to two percent of gdp. but that has people's attention in part because when we think about some of the conditions that are creating uncertainty and what can be done about it, we make a list of those items, additional fed ease is more towards the bottom of that list and fiscal policy is closer to the top. >> all right, we'll leave it there. charlie, thank you so much. charlie reinhard deputy chief investment strategist at morgan stanley smith barney. >> reporter: i'm diane eastabrook in chicago. still ahead, i'll tell you how companies are making a game out of manufacturing to recruit young talent. >> susie: fresh economic data out today suggest the medicine the fed delivered today is justified. surging energy costs pushed prices at the wholesale level to their biggest monthly boost in three years. producer prices rose 1.7% in august. energy prices accounted for 80% of that jump. meanwhile, mo
we think sometime after the election, that the fiscal cliff will be addressed and not all of the fiscal drag will take place, rather than say five percent of gdp it will be reduced to more like one to two percent of gdp. but that has people's attention in part because when we think about some of the conditions that are creating uncertainty and what can be done about it, we make a list of those items, additional fed ease is more towards the bottom of that list and fiscal policy is closer to the...
154
154
Dec 5, 2012
12/12
by
KQED
tv
eye 154
favorite 0
quote 0
the fiscal cliff is a very different story. that's about reducing the deficit too fast. >> ifill: you call it an austerity bomb. describe what you mean by that. >> what's happening is that we are scheduled, unless something is done basically to do to ourselves gratuitously what has been happening to some of the european economies. we're going to have substantial spending cuts, substantial tax increases at a time when the dme is still very weak. of course that's a recipe for sliding back into recession. we set ourselves up with the land mine and the road in front of our economy which is not based on anything real, it's just based on our politicalness. >> ifill: speaking of political mess, both sides have what they say are opening gambits on the table. president obama at least his last week which calls for $1.6 trillion in revenues. the republicans came back with their own yesterday. as you looked at each approach, what do you see in that? >> well, i think it's important. i think the reporting has been a little weak on the republ
the fiscal cliff is a very different story. that's about reducing the deficit too fast. >> ifill: you call it an austerity bomb. describe what you mean by that. >> what's happening is that we are scheduled, unless something is done basically to do to ourselves gratuitously what has been happening to some of the european economies. we're going to have substantial spending cuts, substantial tax increases at a time when the dme is still very weak. of course that's a recipe for sliding...
183
183
Dec 22, 2012
12/12
by
KQED
tv
eye 183
favorite 0
quote 0
the fiscal cliff. speaking to reporters from the white house he said he's ready and willing to get a comprehensive package done, but it's up to republicans and democrats to make it happen. >> nobody gets 100% of what they want. everybody has to give a little. >> susie: the president also proposed a smaller package that prevents taxes for 98% of americans from going up and for unemployment insurance to be extended. he pressed lawmakers to agree on this in the next ten days. darren gersh has details. >> reporter: one day after the collapse of efforts to avoid the fiscal cliff, all sides were speaker boehner tried to shift that burden, saying democrats unemployment insurance to be extended. >> we can't cut our way to prosperity we need real economic growth. and many of us believe on both sides of the aisle that fundamental reform of our tax code will help us get our economy moving faster and put more americans back to work and more americans on the tax rolls. how we get there, god only knows. >> reporter:
the fiscal cliff. speaking to reporters from the white house he said he's ready and willing to get a comprehensive package done, but it's up to republicans and democrats to make it happen. >> nobody gets 100% of what they want. everybody has to give a little. >> susie: the president also proposed a smaller package that prevents taxes for 98% of americans from going up and for unemployment insurance to be extended. he pressed lawmakers to agree on this in the next ten days. darren...
72
72
Dec 5, 2012
12/12
by
KQED
tv
eye 72
favorite 0
quote 0
blames on advertiser concern over the fiscal cliff. pandora shares closed the regular session with a 5.5% gain. but after its pessimistic outlook, shares plunged 19% in extended hours trading, falling to around $7.70 per share. three of the five most actively traded exchange traded products were lower. the gainers were emerging markets and the russell 2,000 funds. and that's tonight's "market focus." >> susie: news corp is splitting into two companies. starting next year, one will focus on publishing with "the wall street journal" and other newspapers; the other will be its movie and television businesses. one of those new tv businesses could be a national sports cable channel. sports is one of the highest priced but most profitable programs to put on television. just consider that espn is a big contributor to the most profitable business unit at disney. rick horrow tonight goes "beyond the scoreboard." >> reporter: espn's sports media monopoly could be in jeopardy, as rupert murdoch's news corp reportedly is moving forward with plans
blames on advertiser concern over the fiscal cliff. pandora shares closed the regular session with a 5.5% gain. but after its pessimistic outlook, shares plunged 19% in extended hours trading, falling to around $7.70 per share. three of the five most actively traded exchange traded products were lower. the gainers were emerging markets and the russell 2,000 funds. and that's tonight's "market focus." >> susie: news corp is splitting into two companies. starting next year, one...
90
90
Nov 6, 2012
11/12
by
KQED
tv
eye 90
favorite 0
quote 0
s if the fiscal cliff hits. the street.com's joe deaux joins us. one thing you may not be hearing late on election night is the m- word. mandate. it's tradition that the winners of an election claim to have the american people on their side. but if this election is as close as the polls predict, there will be no mandate for either side. darren gersh reports. >> reporter: unless all those polls are wrong and tomorrow brings a big surprise one way or another, this election will be the remembered as one of the closest in history. it could also end with both parties convinced the folks back home don't want them to compromise on key issues like taxes and fairness and the size of government. >> there is going to be enough room for both sides to claim that they have the mantle from the american public or that nobody does and i think that hurts the issues on the fiscal cliff. >> reporter: if the president prevails tomorrow, he will be one of the only incumbents to win re-election with fewer votes than he got in his first campaign for the white house. if ro
s if the fiscal cliff hits. the street.com's joe deaux joins us. one thing you may not be hearing late on election night is the m- word. mandate. it's tradition that the winners of an election claim to have the american people on their side. but if this election is as close as the polls predict, there will be no mandate for either side. darren gersh reports. >> reporter: unless all those polls are wrong and tomorrow brings a big surprise one way or another, this election will be the...
129
129
Dec 5, 2012
12/12
by
KQED
tv
eye 129
favorite 0
quote 0
blames on advertiser concern over the fiscal cliff. pandora shares closed the regular session with a 5.5% gain. but after its pessimisticim outlook, shares plunged 19% in extended hours trading, falling to around $7.70 per share. three of the five most actively traded exchange traded products were lower. the gainers were emerging markets and the russell 2,000 funds. and that's tonight's "market focus." >> susie: news corp is splitting into two companies. starting next year, one will focus on publishing with "the wall street journal" and other newspapers; the other will be its movie and television businesses. one of those new tv businesses could be a national sports cable channel. sports is one of the highest priced but most profitable programs to put on television. just consider that espn is a big contributor to the most profitable business unit at disney. rick horrow tonight goes "beyond the scoreboard." >> reporter: espn's sports media monopoly could be in jeopardy, as rupert murdoch's news corp reportedly is moving forward with plan
blames on advertiser concern over the fiscal cliff. pandora shares closed the regular session with a 5.5% gain. but after its pessimisticim outlook, shares plunged 19% in extended hours trading, falling to around $7.70 per share. three of the five most actively traded exchange traded products were lower. the gainers were emerging markets and the russell 2,000 funds. and that's tonight's "market focus." >> susie: news corp is splitting into two companies. starting next year, one...
245
245
Dec 1, 2012
12/12
by
KQED
tv
eye 245
favorite 0
quote 0
stocks were mixed with continued nervousness about the fiscal cliff. the dow gained just three points, the nasdaq lost nearly two. the s&p 500 was virtually unchanged. on the week, the dow up just barely. the nasdaq the biggest gainer: up almost 1.5%, the s&p up half a percentage point. >> susie: investors took a bite out of yum brands today. the stock tumbled 10% after the parent of k.f.c. and pizza hut said its business in china is slowing. yum's c.e.o. warned that china sales will fall by 4% in the fourth quarter, that's a big drop from the same period a year ago when sales surged 21%. blaming the weak chinese economy, yum also said it plans to reduce the number of restaurant openings in the asian nation. yum operates roughly 5,000 restaurants in china, accounting for half of its total sales. >> susie: joining us now with more on the chinese consumer and the economy, nicholas consonery, asia analyst at the eurasia group. nick we've heard this story before from nike, mcdonald's, tiffany's recently. how serious is this consumer slow-down in china? >>
stocks were mixed with continued nervousness about the fiscal cliff. the dow gained just three points, the nasdaq lost nearly two. the s&p 500 was virtually unchanged. on the week, the dow up just barely. the nasdaq the biggest gainer: up almost 1.5%, the s&p up half a percentage point. >> susie: investors took a bite out of yum brands today. the stock tumbled 10% after the parent of k.f.c. and pizza hut said its business in china is slowing. yum's c.e.o. warned that china sales...
132
132
Dec 17, 2012
12/12
by
KQED
tv
eye 132
favorite 0
quote 0
a fiscal cliff. but are we? or is this, another myth in the making? for some insight, we turn to two seasoned observers both of whose books you'll want to as santa to leave in your stocking. bruce bartlett was an economic adviser to the supply-side icon jack kemp, and to two presidents -- ronald reagan and the first george bush. he got into hot water with his conservative cohorts when he wrote a widely quoted book critical of the second president bush. his most recent work is "the benefit and the burden: tax reform-why we need it and what it will take." yves smith is the founder and editor of the popular blog naked capitalism. after 25 years in the financial services industry, she now heads the management consulting firm aurora advisors. she's the author of this book: "econned: how unenlightened self interest undermined democracy and corrupted capitalism." welcome to you both. >> thank you. >> thank you. >> is the fiscal cliff just a metaphor? or is it for real? >> well, the cliff is an inappropriate metaphor. and it does conjure up images, precisely
a fiscal cliff. but are we? or is this, another myth in the making? for some insight, we turn to two seasoned observers both of whose books you'll want to as santa to leave in your stocking. bruce bartlett was an economic adviser to the supply-side icon jack kemp, and to two presidents -- ronald reagan and the first george bush. he got into hot water with his conservative cohorts when he wrote a widely quoted book critical of the second president bush. his most recent work is "the benefit...